Stobart Group reported an increase in turnover and profit in its transport and distribution unit in its final year as a fully-owned division of the business. In March Stobart Group sold a 51% stake in transport division to Douglasbay Capital (Dbay) – the former owners of TDG – for £280.8m. The move saw William Stobart become chief executive the business now called Eddie Stobart Logistics. In the financial year ending 28 February 2014 discontinued operations at Stobart Group (which includes […]
The UK’s 100 largest operators are more profitable than they were last year and employ more people, according to the Motor Transport Top 100 2015, in association with SDC.
Stobart Group’s transport and distribution division, Eddie Stobart, saw revenue grow but profit fall in its most recent trading year, as it failed to cover increased costs through rate rises. For the 12 months ending 29 February turnover rose to £519.5m from £475.3m a year ago. However, pre-tax profit fell from £34.2m to £27.4m, due to cost increases of £4m “which have not been fully recovered through rate increases, mainly due to the increase in our customers’ costs”. Furthermore, £11.4m […]
Tomorrow I will be speaking with Wincanton chief executive Eric Born as Britain’s second largest road transport operation (or is it?) reveals its latest annual accounts. The most important part is – can the company turn a profit and for much of the past 12 months it has promised “good progress” in its strategy to return to “sustainable profit growth”. Before then its been a week of scalping – shares in the transport tracker are either flat, or down, across […]